A consumer consumption bundle contains good X and Y. Suppose the price of good X goes up and a consumer goes on consuming the exact same amount of X as before. Check the correct statement(s). A) Both X and Y are inferior. B) X is an inferior good. C) In the special case where X is Leisure, and Y is "all other goods", X is an inferior good. D) The consumption of Y decreases. E) It is impossible that the consumption of X remains unchanged when the price of × goes up. F) The substitution effect is negative

A consumer consumption bundle contains good X and Y. Suppose the price of good X goes up and a consumer goes on consuming the exact same amount of X as before. Check the correct statement(s). A) Both X and Y are inferior. B) X is an inferior good. C) In the special case where X is Leisure, and Y is "all other goods", X is an inferior good. D) The consumption of Y decreases. E) It is impossible that the consumption of X remains unchanged when the price of × goes up. F) The substitution effect is negative

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 14SQ

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